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trogdor

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  1. Like
    trogdor got a reaction from Insoniac in HODL'rs Only   
    I'll allow $22 EOM.
  2. Like
    trogdor got a reaction from Shuz in HODL'rs Only   
    I'll allow $22 EOM.
  3. Haha
    trogdor got a reaction from 2ndtimearound in HODL'rs Only   
    I'll allow $22 EOM.
  4. Haha
    trogdor got a reaction from ObeyTheWafflehouse in HODL'rs Only   
    I'll allow $22 EOM.
  5. Haha
    trogdor got a reaction from xrp-pat in HODL'rs Only   
    I'll allow $22 EOM.
  6. Like
    trogdor reacted to RegalChicken in HODL'rs Only   
    As many of you know, the majority of us pro-XRP long time HODL'ers are paid per post to incite FOMO among the masses. Now that much of our work is done and we have reached mass capitulation, the very whales who paid us per post on XRPChat are now asking us to survey the general mood of the people to see where we are as a society and where we are headed. The biggest question on everyones mind is "are we in full capitulation, yet?".
    Generally speaking I am seeing long time HODL'ers selling part or all of their stashes in a way that I haven't seen since December 11th, 2017 (go look at that date on an XRP chart).
    I consider this to be a bullish signal, personally.  XRP might be only $.30 in September, or it may be $22 later this month (the same rate of growth XRP had by May 2017).
     
    *kisses*
  7. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    I'd prefer not to address Jed or Stellar at this time. But I'm willing to tell you why.
    It is well known that Jed was a cofounder of OpenCoin/Ripple. What is lesser known is that his leaving coincided with my arriving at OpenCoin. We overlapped at the company for a short while, but I was working remotely in Texas and he was in SF. By the time I made my first trip out to SF, Jed had quit coming into the office. So, crazy as it sounds we never actually met. Even more surprising is that over the 5 years I worked at Ripple and 2 years living in SF, we never crossed paths. But I do know stories about that complex relationship and none of it was fun for my friends.
    Sun Tzu wrote: "The enemy of my enemy is my friend."
    With a little mathematical transformation I feel compelled to make clear: "The enemy of my friends is my enemy"
    That sounds a bit tough and cheek given I've never met the man, but I'm actually serious. I value my friends at Ripple more than anyone can imagine. 
  8. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    This is such a HUGE WIN that I hope everyone reads your post 10 times!
    One of the reasons I'm here is that I don't have to ask for Ripple's permission to make this happen anymore. Y'all never did. But I liked my cushy paychecks!
    Just to be clear, everyday Brad and his team show up to the job to ask and answer the questions, "What is the BEST thing we can do today to help assure that we succeed at our longterm goals of improving (re-inventing?) the worlds financial system?" They focus and make good decisions in this regard. I support them all 100% and consider all of them my friends.
    But there is a lot of room for people like Stefan and the Coil team to say, "What can we do today (using the same tools) that meets our longterm goals of making consumer level folk's lives better and more fun as soon as possible.
    And there is even more room for me and y'all on this site to get to work doing what we think will be fun as well. Really, no permission is necessary.
    What I know, Stefan knows and the Xpring team knows is this whole ecosystem will develop if we can try more things in parallel. As I've mentioned, I have more of my retirement money invested in XRP and Ripple than advisors would think is warranted given my age. I'd like this ecosystem to develop faster as well, and I'm willing to help it do so.
  9. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    I wrote about how I got to Ripple in my most recent treatise above. The rest of the story is on linked-in and some on my vanity blog. (Start the blog from the very beginning if you are really interested. It tries to tell a coherent story. It's not finished yet though. Maybe I'll get to that if I ever get finished here.
    Glad to hear that you find Ripple, and blockchain fascinating. I do too!
    You are never too old to learn to program if you find yourself compelled to do so. But I'd say you are too old to start learning to program with the intention of finding a paid entry level programming position. That's just the nature of programming, it isn't the least bit "fun" for most people. So if you haven't been fascinated by it in the past, don't expect an epiphany by force to happen. Entry level programming positions aren't necessarily fun, even if you find programming itself fascinating.
    But don't be discouraged. The Ripple and blockchain ecosystems don't need you to be a programmer. They need you to be an intelligent experienced "grown-up" that understand the needs of the real-world. This is the most valuable skill in the space. You need to deeply understand WHAT the programming geeks made these systems do. You don't need to be will versed in the behind the scenes programming magic of HOW they made the systems do it.
    The biggest need is to take a real-world value creating business idea, and integrate it to the Ripple DLT or other blockchain technology in order to help that business REALIZE the value it is creating.
    That sounds hand wavy and vague. So let me give you an example from your own field of education. Many people absolutely LOVE educating others. (I'm having fun here!) But what's the hardest part about the profession of trying to do so...
    ...well, getting paid, of course! For many people, being an educator means going to work for a big bureaucracy, jumping through hoops, doing paperwork and earning less than you feel that you are worth for doing so. Why?  Because the payment system for teachers is Broken As Designed (BAD). So make a new one! Take micropayments, or crypto, or swap teaching hours for bill payment.
    A fascinating thing for you to wrap your head around is what Stefan and team are doing at Coil inventing "streaming money". As an educator, you probably get paid twice a month, or worse once a month. But WTF! They want you to show up and teach everyday. Isn't it a pain in the ass to have to wait for others (you employer) to settle up on the money they owe you? Your grocery bills and other expenses don't wait on you to feel ready to pay for them. So why should you wait on others who owe you?
    Streaming money is a CRAZY idea, but as you start thinking about it, people tend to go "hell yeah!"
    The reason you get paid monthly or bi-monthly is that accounting used to be hard. Banking was hard. People needed time to calculate how much you worked, do the withholding send transactions to the processor for direct-deposit or printing check. Submitting the withholding to the appropriate agencies.
    But now computers do all of that really fast. And money moves faster. So start to think, "Why couldn't I get a direct deposit into my bank account everyday instead of every two weeks?" There really isn't a technical reason you couldn't.
    And if you get really wonky you start to think, hey! What about getting paid every hour! Or even every minute!  How would that change my life?
    And what if my Uber driver didn't have to wait. And what if the YouTube author of the video I just watched didn't have to wait to get paid. And Holy ****! What if I was an educator via video and my students streamed money to me! F*** the bureaucracy I have to deal with everyday!
    Then you realize, I know lots of educators that feel the same way as I do, but they don't know anything about blockchain or streaming money. So what if I start a project to benefit us all? There has to be some fresh out of school jr programmers who would jump at the chance to help!
     
    That's the way I think you and many of the people on this sight should be thinking. Sorry this turned into such a huge rant. 
  10. Like
    trogdor got a reaction from OneViking in Hi! I'm Bob   
    Thanks for sharing! And welcome! It's great to get more insight into Ripple through your experience. Hope you are able to stick around a while!
    But his comment helped me (and maybe you) realize he's someone to ignore on here.
  11. Like
    trogdor reacted to iPinky7 in Hi! I'm Bob   
    Hi Bob. Like most, reading this thread I am most thankful for some insights you give us.
    There used to be a guy called "Shane Ellis", purportedly working for UK government. He commented on a video on YouTube and I had gathered his comments/replies to questions in this document (which I named Shane Ellis theory): https://drive.google.com/open?id=1lqNRyD_0p78p1byoLmd2O7C3WAuZNJVS 
    Summary: he proposed XRP to have a very rapid and steep price increase once there's requirement for high value txs, through eating through the ask order books of a preferred xRapid partner exchange. Those high prices would be "maintained" by huge (hundreds of millions) buy/sell walls which he told was totally legal. You however state (see quote above) that it is illegal artificially manipulate the price.
     
    My questions:
    Does Shane's theory fall under your "artificially manipulated" price?
    Do you think this "theory" is sound?
    I guess the whole community then thinks: someone needs to go to jail right now. No-one can understand with all the good news coming, that the price is still so low. All agree that it looks like "manipulation", ie. keeping the price flat. Your take?
  12. Like
    trogdor got a reaction from Zerpaholic in Hi! I'm Bob   
    Thanks for sharing! And welcome! It's great to get more insight into Ripple through your experience. Hope you are able to stick around a while!
    But his comment helped me (and maybe you) realize he's someone to ignore on here.
  13. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    This was another link I looked at in association to this post, but it seems to be edited out now.
    https://drive.google.com/file/d/1oH1pflv8ebpUyevLaUxQJ9jBm1iKOJ32/view
    PLEASE DON'T BET YOUR LIFE SAVINGS BASED ON THESE ARGUMENTS!
    Again: I don't give financial advice. But I see a lot of misunderstands in how markets work in these links.
    It is really important to understand that people/firms make money in the market in different ways.
    Market Makers: Make money by selling TIME. They are not speculating on the price. In fact, the price moving represents unfortunate risk to them. Market makers exist to make sure that the assets you hold are always liquid. Meaning you can sell them whenever you want without waiting, at a price that is predictable and doesn't move the market. A market maker buys low and sells high by definition. The difference may be only a couple of pennies net on the transaction, but they want to do those transactions millions of times. As I mentioned market making system at large banks can trade TRILLIONS of dollars in a single day. The money simply vibrated back and forth like alternating current.
    Arbitragers: Make money based on MISS-PRICING among markets. Their role is to make sure EVERY market reflects the same market price. Arbitragers hate to take risk, so they don't. They buy on one market and sell on a different market at exactly the same time (or as close as is computationally possible). So the argument that says, as soon as people see the price go up in one market, they'll raise their prices in other markets is not likely a key dynamic. One of the things that arbitragers need to be good at is rebalancing their funds very cheaply. Expect that they are better at this than you are. So if one market is leading the way up, and an arbitrager is lifting a secondary market to match, you can be sure the trader has a fast and cheap way to move his non-crypt funds between markets.
    Speculators: Make money based on changes in the market price. You can think of them as getting their cut last. Markets tend to move based on imbalanced flows. If the same amount of USD is flowing into the XRP market as flowing out of it, then the price will stay the same. If more USD wants to flow in than out, the price will rise. And in the reverse the price will fall. This is one of the huge advantages that the XRPL has over mining based systems.
    With mining, there is a constant outflow to all fiat currencies due to the miner's need to pay their electricity bills and to cover the cost of expensive mining hardware. So bitcoin and other mining based cryptocurrencies need a consistent source buyers using fiat, just to maintain the current price. So if all buyers failed to show up on one day, the price would plummet because miners MUST sell to cover their bills. They can't wait (limit orders) indefinitely for buyers to show up. Ripple validators don't have this continuous utility burn rate. There is some hardware but it is insignificant compared to a mining rig. There is some cost, but it is also insignificant and consistent compared to a mining rig.
    -----
    What does push XRP prices up for speculators?
    1) New market makers wanting to enter the markets in order to scalp the high profits from existing market makers. These traders need to buy of "fat stacks" of XRP to keep deployed (long term) in the markets they are making.
    2) Arbitragers wanting to enter the market in order to scalp the high profits existing arbitragers are making. Likewise, they need "fat stacks" of XRP deployed at multiple exchanges so they can execute trades at the same time.
    3) Other people who see holding a very liquid (to every currency) asset as a personal advantage. This includes business and regular people.
    I personally, am NOT trading based on these numbers.
    I see arguments like this all the time. Most are not very well thought out. But if you want to get overly excited about something that might not happen. I've heard a much more fun bit of speculation that went:
    Of course, whose to say when or if that will ever happen. Again, math is fun. But be very careful with your bets.
  14. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    @JoelKatz In the house!  Now it's a party!
    Thanks for jumping in David. There are a lot of things I hate about being outside of Ripple. Missing hearing your latest ideas first is the worst thing. Feel free to ping me on anything fun. I'm finally coming out of my long Ripple decompression phase.
    I'm hoping to wrangle the community into thinking about those things. Thanks for encouraging it.
    Yeah, you know how much I love social credit, trustlines, and rippling transactions. These folks have no idea what they are getting themselves into! 
    Everyone here is encouraging me to write a book. I'm thinking something like, "Ripple, Blockchain and the Future of Money". I hope you'll collaborate by throwing in your wisdom as well.
    Bob
  15. Like
    trogdor reacted to JoelKatz in Hi! I'm Bob   
    We certainly would never discourage anyone from using the XRPL's distributed exchange feature! I'm still a bit sad that our strategy lead us in a different direction and that we abandoned the nascent ecosystem we had been building. It was clear that the feature was way ahead of its time and there was no direct path to adoption then.
    I talk to Ethan (head of Xpring and pretty much everything at Ripple other than cross-currency payments) frequently about whether there are good use cases for the ledger's decentralized exchange now and whether that's something we can use Xpring to help develop. I have a plan that moves us in that direction that I've been working on and shown to several people inside the company. The problem I keep coming back to is that there isn't quite a great use case that I can see how to move to a product just yet. But getting more minds thinking in that direction might yield results and time has brought the rest of the world in this direction.
    The other thing that Arthur and I built into the ledger in the early days is community credit. That is, I think, even further ahead of its time and even harder to see a solid use case for in the near term. I sometimes feel like I work for Twitter in 2000 and I'm trying to explain to everyone that for us to really grow, people need better phones. Of course, there was no Twitter in 2000 -- it was too early. I'm trying to find ways to make it later as quickly as possible.
  16. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    Yeah, that is awesome. Clearly, in my eyes, that is a marketing talking points video. Nice work Monica!   I'll comment point by point:
    1) Decentralization: People in the crypto space have been hammering Ripple on this since the very beginning. Owing to differences in Ripple's architecture from early bitcoin implementations, it was unclear who should run a rippled node and why they might want to be a validator. This lead to a long period where Ripple ran 5 validators and everyone else trusted them. Internally everyone at Ripple hated this configuration and wanted to "distribute" that responsibility to others as soon as possible. But for reasons it took longer than expected to make that happen. This is a huge development for XRP and the XRP Ledger network. It takes a bit arrow out of the anti-Ripple talking points quiver of those looking to promote other assets.
    2) Latency: Transaction speed and absence of mining have always been key advantages for Ripple. David is always happy "to represent" for them. But at this point in time, he's said those things a million times in a million forums. I know he' probably really rather talk about some of the newer more wonky breakthroughs his team has made. If you view this from a banking / financial institution perspective, mining is seen as pretty silly. You end up paying strangers (miners) vast amount of money to do bookkeeping for financial institutions that are already better at bookkeeping than anybody in crypto. The excuse the crypto sphere uses is that "you don't have to trust the bookkeepers" (there are various version of that theme). But when you think about it from a FI perspective, all of their customers ALREADY TRUST THEM to do that bookkeeping. So saying, "Why don't you outsource that roll to anonymous strangers in China?" sounds a bit ridiculous.
    3) Decentralize Exchange: Y'all are right, this is the most interesting part. If you watch the question setup, you can see immediately that it is a marketing talking point. But then you can see the life come into David's eyes an his mannerisms completely change, because the internal distributed exchange is really genius and exciting. It is something he should be hugely proud of, but for years it has been underutilized.
    Now some fair caveats so that I feel I'm giving y'all my honest personal opinion.
    Distributed exchanges have started to get a lot of mind share in the crypto space. For years nobody cared about that concept. Once I get to the right thread, I'm going to say a bunch of nasty things about the underlying reasons that many (non rippled) distributed exchanges are created. When I do, you'll see how the rippled markets are much more compelling for use by existing financial system players. So the reason this question is in the video at all, is because the marketing team wanted to point out that Ripple created the DEX concept and its already running while many other press releases are currently puffery.
    But David REALLY MEANS he wants to see it used much more! Believe him. However, I didn't see any reason to think that Ripple the company is changing their strategy dramatically. But if I wanted to be optimistic, I'd say that it appears from David's statement and attitude, that Ripple wouldn't discourage others from integrating directly to the XRPL and using it more extensively. I'm happy to help anyone who wants to do so learn more about it.
  17. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    I know I'm behind on a lot of other posts in this thread. I promise to catch up as soon as I can.
    But I want to handle this one next. It makes me really happy that someone dug back into my history to see what I'm all about. Thanks for this @brotherblades!
    I wrote the following back in May of 2013. Keep in mind this was before I joined OpenCoin. I was just a community member with the same opaque view of the company as anyone else. By that time I had studied the system deeply and understood its dynamics well. I'll let you read it before I make further comment.
     
    @brotherblades questions:
    I want to be clear in saying, I am holding XRP as a speculative investment. I also have identified two distinct upward price pressures on XRP as it becomes a successful bridge currency. Speculation in this case would be a third (likely correlated) reason through human nature, but I don't see a direct mathematical causation.
    I've moderated that view based on some fairly deep personal analysis. As I said above, I'm now betting XRP will appreciate as it becomes a viable bridge currency.
    Let's talk about what's changed. (Trigger warning) I might say some things that seem scary. It will all work out in the end.
     
    I am one of the few people who wanted to work with Ripple and for OpenCoin DESPITE XRP. I'd grown up with the bitcoin community and I wasn't a fan of the needless scarcity currency model. There are lots of reasons why. If you really want to dig in, you can read what I wrote on bitcointalk. There I ran the first pseudo-group discussing stable coins.
    So what did I like about Ripple if not XRP?  Well, everything else.  Creating your own currencies, creating your own accounting relationships, atomic multi-party payments, the distributed exchange. In a nutshell, the way the whole system fits together strikes me as created by gods own hand. It was and still is the most beautiful system I've ever seen. And to my mind at the time, XRP was a tool to help the system function. Not the primary reason for its existence.
    -----
    More to come, but I need to step away for a few...
    Edit2: This post continues here.
  18. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    OK, in the spirit of txID or it didn't happen. I submit: 4E1D594E045A92CBFDB6BC1698D3AD50F939B51D4DA0B6F1FD3F34D3CF2D7482
    I noticed some unnamed individual sent me a XRP yesterday. So I sent it back to him.
    If you are still suspicious, I set the destination tag to "23155" which matches my profile on this site.  https://www.xrpchat.com/profile/23155-bobway/
    I also set the invoice ID to: 486920585250436861742E636F6D2049276D20426F6257617920202020202020
    If you are too lazy to decode that yourself it says: Hi XRPChat.com I'm BobWay
  19. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    Yeah, I knew that was coming. I just thought the shoe on head thing was funnier!
    The only reason I haven't is that I don't keep my secrets on this computer. I need to go dig them out of cold storage. 
    In the meantime, anyone is free to check out my blog at http:/bob-way.com. I listed it in my profile. If you are an admin here you'll see that I used an email address at that domain to validate my account here.
    Also, does anyone here use KeyBase? I've be thinking about "owing" all my social media accounts using KeyBase cryptographic validations.
    And if none of those are sufficient, @JoelKatz or @nikb would know these posts are unmistakably me. Step up guys!
  20. Like
    trogdor got a reaction from damascus1986 in Hi! I'm Bob   
    Thanks for sharing! And welcome! It's great to get more insight into Ripple through your experience. Hope you are able to stick around a while!
    But his comment helped me (and maybe you) realize he's someone to ignore on here.
  21. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    It really depends on what you mean by "mass". At the moment the focus is not on getting XRPL wallets for all 8 billion people on the planet.
    The more immediate goal is to have all 8 billion people's international payments routed through XRP as a bridge currency. To make this work requires exchanges and traders (on ledger and off) to acquire and trade XRP. It also requires connecting fiat-in and fiat-out service providers to that core network.
    Traders are competitive folk by nature. When it becomes clear that other traders are making piles of money making XRP markets, then you'll see a mad rush of new traders wanting into the game. The is the kind of "mass" adoption I'm looking for.
    Keep in mind, traders making bridge currency markets are NOT looking to profit on XRP's price appreciation. What they are doing is profiting on the spread as payments go back and forth. One of my friends at a major bank, developed a system that trades more than a trillion dollars a day making markets. The spread (as a fee) adds up pretty quickly no matter how small it seems.
    However, you can speculate on potential side effects that happen in response to "mass" XRP market making. The most important thing is that it makes XRP very liquid to more and more currencies. Here "liquid" means that you can sell larger amounts on demand without moving the price in the market. This fact alone MAY draw people to use XRP as a longer term store of value. As they move in and buy up XRP, the increased demand MIGHT drive up prices. Again, as everyone here has witnessed, sometimes when prices begin to move for a sensible reason things can build on themselves.
    I've said before in this thread that I'm personally bullish on XRP adoption (in the above sense) this year. But like everyone I'm just speculating. Please don't trade on my opinion.
    My opinion in NO WAY reflects inside information about what Ripple (the company) is currently working on or going to announce. In fact, for the purposes of these forums, I'm much happier not knowing because it allows me to speak more freely without inadvertently saying something I shouldn't.
     
  22. Like
    trogdor reacted to BobWay in Hi! I'm Bob   
    This is a really great question and I see another related response so I'm going to reply to them together.
    What got me started on this theme was an early question to the effect of, "I don't see why other crypto people can't quickly duplicate what Ripple is doing with XRP." The rebalancing problem is one of two key advantages Ripple the company has over other cryptocurrency teams.
    Without giving away and particular inside information or processes, let's speculate on what I think these rebalancing advantages are.
    It is well known that Ripple has a trading and markets team headed by Miguel Vias. It's also guessable that he, Ripple, the RippleNet banks, and the xRapid remittance providers all likely have relationships with trading firms that specialize in market making and rebalancing. I haven't seen any other effort that could throw this kind of team a the problem to facilitate a quick solution. It is also well known that Ripple has a sales team headed by John Mitchell. When you think about an imbalanced flow into Mexico driving up prices, it is pretty easy to calculate that also means the flow out of Mexico is under priced. So for a sales team that is golden, "How would you like send your payments our of Mexico at less than market rates? This doesn't hold forever since the flows start to balance, but potentially could kickstart deals. When using XRP as a bridge currency, you don't need to balance remittance flows with remittance flow. You can balance them with any other flow. And importantly, you don't need to balance USD/MXN two way flows. You only need to balance (anything) into Mexico, against (anything) out of Mexico. [This is also true of any bridge currency, so it isn't a particular XRP advantage. But it is helpful to see how it can make the other two teams more effective.] I'll save the second major advantage for another thread.
  23. Like
    trogdor got a reaction from jpgt1 in Hi! I'm Bob   
    Thanks for sharing! And welcome! It's great to get more insight into Ripple through your experience. Hope you are able to stick around a while!
    But his comment helped me (and maybe you) realize he's someone to ignore on here.
  24. Haha
    trogdor reacted to BobWay in Hi! I'm Bob   
    Just to give as well as I get...
     
    Anyone can accumulate fat stacks of XRP. But can you accumulate THIS!

    If you look closely at the two pictures, you notice that I'm wearing the original Ripple t-shirt from 2013.
  25. Haha
    trogdor reacted to BobWay in Hi! I'm Bob   
    I'm offended. What do you want me to do, put a shoe on my head?
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    Come on! Let's have some fun here!
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